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How to Become a Commercial Real Estate Agent in Florida

Published: 07-11-23 Category: Marketing

Specializes in providing actionable insights into the commercial real estate space for investors, brokers, lessors, and lessees. He covers quarterly market data reports, investment strategies, how-to guides, and top-down perspectives on market movements.

A view of Miami, FL during the setting sun.

Florida is a hotspot for commercial real estate activity, with industrial vacancy rates at a record low of 2.2% and a 7.7% multifamily growth rate as of 2023. As such, becoming a commercial real estate agent in Florida can be a viable career path for independent and motivated professionals.

Commercial real estate agents play a crucial role in real estate markets by facilitating property transactions: In Florida's busy real estate market, opportunities abound for commercial real estate agents to find clients and build their careers.

Here, we'll cover the steps you have to take to get your commercial real estate license and start working as a commercial real estate agent in Florida.

Becoming a Commercial Real Estate Agent in Florida

Applicants for real estate licenses in Florida must meet the following three conditions:

Be at least 18 years old;
Hold a high school degree or equivalent education; and
Have a US social security number.

Like most other states, Florida doesn't have separate licenses for residential and commercial real estate. A Florida real estate license will let you work with both types of properties.

#1 – Complete an Approved Course

Before you can apply for your license, you must complete 63 hours of real estate courses from an institution approved by the Florida Real Estate Commission (FREC).

Topics covered in approved courses include:

Real estate regulations;
Property laws;
Agency law;
Real estate finance; and
Mortgages.

You must score at least a 70% on the course's final exam to pass. If you fail, you can retake the final exam within a year. If you fail the exam a second time, you'll have to retake the 63-hour course before you can take it again.

#2 – Submit an Application and a Background Check

Before you can sit the state license exam, you must submit a license application for FREC approval.

The application process is to verify your educational credentials and other eligibility requirements. You can file an application online at the Florida Department of Business & Professional Regulation (DBPR), or complete and mail a physical application.

Part of the application includes fingerprinting and submitting to a background check. Anyone who has been convicted of a first-degree felony, capital felony, embezzlement felony, or money laundering felony is permanently banned from receiving a real estate salesperson license.

#3 – Pass the Florida Real Estate Agent Exam

How to Become a Commercial Real Estate Agent in Florida

Like most other state license exams, the Florida real estate license exam is multiple-choice and consists of 100 questions over 19 sections covering national and state real estate law, regulation, finance, taxes, appraisal, and ethics. Participants have 3.5 hours to take the exam and must get a 75% or higher to pass.

The Florida real estate agent license exam in particular is notorious for its difficulty, with only a 47% first-time pass rate. The pass rate for repeat takers is even lower at 34%. We highly recommend taking several practice exams before the real thing to maximize your chances of passing.

#4 – Work With a Sponsoring Broker

Similar to agents working in other states, commercial real estate agents in Florida cannot work alone and must find a sponsoring broker. Sponsor brokers supervise real estate agents and act as mentor figures. Your sponsor broker can be a crucial part of launching your real estate career, so you need to consider the issue carefully.

Think about the following questions when looking for a sponsoring broker:

What kind of property do they specialize in (e.g., office space, industrial, multifamily, warehouses, etc.)?
Do they have career advancement opportunities?
What is the commission structure for agents?
Will they assist with continuing education and professional development?

You must find a broker sponsor before you can get your license, even if you've passed the exam. You can find a broker through word of mouth and references from professional contacts. You can also join a professional organization like the National Association of Realtors (NAR) to find a willing sponsor.

#5 – Renew Your License

Florida requires real estate agents to renew their licenses once every 24 months. To renew your license, you must complete a 45-hour continuing education (CE) course either online or in person. Topics covered in renewal courses include marketing, financial analysis, discrimination law, investment strategies, and professional ethics.

After completing your CE credits, you can renew your license online at the DBPR's official website portal.

How to Get a Florida Commercial Real Estate Broker License

Agents that want to work independently must first receive their broker license. Broker license applicants must have at least two years of experience working as an agent for a licensed broker and must complete a 72-hour FREC-approved course.

After finishing the course, potential brokers need to take the Florida Real Estate Broker Examination and score at least 75%. To renew your broker license, you must complete a 60-hour post-licensing course within two years.

Florida Commercial Real Estate Agent Salary

According to data collected by ZipRecruiter, the average salary for a commercial real estate agent in Florida is $54,460, with about 33% of agents making above $66,000 a year. Those in the top 90th percentile of commercial real estate agents make over $79,000 annually.

Although the state's salaries are lower than the national average, Florida cities, such as Miami and Orlando, have several opportunities to make money with commercial real estate on account of the low cost of living and extremely strong commercial real estate sector.

Florida Commercial Real Estate Job Outlook

According to data from the NAR, Florida has approximately 219,489 active realtors as of 2023. The amount of commercial real estate agent jobs grew by 1.74% between 2022 and 2023 — higher than average. In fact, Florida currently has the most registered real estate agents of any state in the country, ahead of California, New York, and Texas.

The higher number of agents might make one think competition in the job market is fierce. The upshot is you won't be competing against all commercial real estate agents in Florida, just the ones in your local market and property niche.

Moreover, commercial real estate agents in Florida will likely continue to enjoy job security thanks to the state's healthy job growth.

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